July 29, 2023 09:08 pm | Updated 09:45 pm IST - NEW DELHIAs a large creditor to Sri Lanka, China is welcome to join the effort steered by Japan, India and France to help the island nation cope with its debt distress, Finance Minister Nirmala Sitharaman said on Saturday. She also called upon the International Monetary Fund (IMF) and the World Bank to speed up relief measures for countries facing debt vulnerabilities. In Sri Lanka’s case, Japan, which holds the G-7 Presidency currently, quickly took the lead to address the distress, she pointed out. “Japan came up, along with France and India, with a quick committee of creditors group, which started addressing the issue. Japan’s leadership in such cases with “a constructive approach to address debt distress” has been well-received, the Minister said, adding that this is an indicator that the G-7 and G-20 together would come up with solutions to the problem.

Source: The Hindu July 29, 2023 16:16 UTC